Book jacket of 'Fifty Shades of Grey' by E.L .James / Focus Features

by Bryan Alexander, USA TODAY

by Bryan Alexander, USA TODAY

The much-anticipated film version of the erotic best seller Fifty Shades of Grey will be released in North America on Aug. 1, 2014, distributor Focus Features announced on Thursday.

Opening dates for around the world will follow after the North American date.

The news about the film is starting to come fast and furious. On June 19, Sam Taylor-Johnson was named director for the project. Taylor-Johnson vowed to "honor the power" of the book series by E.L. James, which has taken the book world by storm.

Fifty Shades of Grey (first published in 2011) follows the steamy sexual relationship of 27-year-old billionaire Christian Grey and college student Anastasia Steele.

Subsequent novels in the series, Fifty Shades Darker (2011) and Fifty Shades Freed (2012), explore the couple's deepening relationship. The Fifty Shades trilogy has sold over 70 million copies worldwide in e-book and print.

While rumors have swirled about possible leading actors and actresses for the part, none have been officially named.